Cocoa butter market Turkey

Earlier Report Observations

From 2018 to 2020, the cocoa butter market volume in Turkey grew from 50 549 t to 71 072 t. This expansion was driven by anticipated increases in cocoa demand, which materialized in 2020 with an expected rise of around 20%. Concurrently, cocoa prices were influenced by climatic conditions and global supply-demand balances, creating market tension.

Growth continued into 2021, reaching 73 834 t, supported by the widening use of cocoa butter in cosmetics, pharmaceuticals, and dietary supplements, alongside the transformation of distribution through e-commerce and direct-to-consumer sales channels. However, in 2022, the market volume contracted to 56 703 t due to cocoa price fluctuations driven by climate factors and political instability, compounded by multi-layered issues like exchange rates and logistics costs.

The market recovered to 70 570 t in 2023. This rebound occurred against the backdrop of production halts at cocoa factories in Ghana and Côte d'Ivoire, which sharply raised global prices. Major chocolate manufacturers in Turkey responded by increasing the use of cocoa butter substitutes like palm and cottonseed oil to balance costs, while product grammage reductions and packaging changes began to emerge.

Production cocoa butter Turkey

In kind, 2017-2020, t

Turkey ranked 9th globally in cocoa butter production from 2017 to 2020.

Top producers of cocoa butter, 2017-2020

World map of production of cocoa butter, 2017-2020

Turkey's cocoa butter production grew for the second consecutive year. In 2020, the country produced 60 459 tonnes, a 20.6% increase from 2019. Over the 2017-2020 period, production rose by 31.2%, with an average annual growth rate of 9.5%. The lowest production volume was in 2018 at 45 348 tonnes, which also saw the largest decline of 1.6%.

Annual dynamics of production Turkey in kind, 2017-2020, t

In value, 2017-2020, M $ US

Cocoa butter production in Turkey increased for the third consecutive year. In 2020, the output was valued at 352.8 million US dollars, a sharp rise of 27.0% compared to 2019. From 2017 to 2020, production grew by 37.6%, with an average annual growth rate of 11.2%.

Annual dynamics of production Turkey in value, 2017-2020, M $ US

Exports cocoa butter to Turkey

Exports in kind, t

The market exhibited volatility during the observed period. Exports reached their lowest point in 2017 and peaked in 2018, with a 1.9-fold difference between these years. In 2020, Turkey exported 4 399 tonnes of cocoa butter, a 39.1% decrease year-on-year. The highest export volume was in 2018 at 7 467 tonnes, which also recorded the largest increase of 90.8%.

Annual dynamics of product's exports to Turkey in kind, 2017-2020, t

From 2017 to 2020, Iran (27.0% of exports in volume), Russia (16.4%), and Ukraine (13.1%) remained the top buyers of Turkish cocoa butter, collectively accounting for 56.5% of total exports.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports to Turkey in kind, 2017-2020

Exports in value, K $ US

The market showed volatility over the observed period. Export values varied by a factor of two, with the low in 2017 and the high in 2018. In 2020, Turkey's cocoa butter exports totaled 25 672 thousand US dollars, a 35.8% decline from the previous year. The peak value was in 2018 at 44 057 thousand US dollars, which also saw the largest increase of 102.3%.

Annual dynamics of product's exports to Turkey in value, 2017-2020, K $ US

From 2017 to 2020, Iran (27.1% of exports in value), Russia (16.4%), and Ukraine (13.4%) accounted for the largest share of Turkey's cocoa butter exports, together comprising 56.8% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports to Turkey in value, 2017-2020

Imports cocoa butter in Turkey

Imports in kind, t

Turkey imported 15 012 tonnes of cocoa butter in 2020, a 14.0% decrease from 2019. Over the 2017-2020 period, imports fell by 4%, with an average annual decline of 1.4%. The lowest import volume was in 2018 at 12 668 tonnes, which also recorded the largest decline of 19.0%. Imports peaked in 2019 at 17 457 tonnes, marking the largest increase of 37.8%.

Annual dynamics of product's imports in Turkey in kind, 2017-2020, t

From 2017 to 2020, Malaysia (40.9% of imports in volume), the Netherlands (38.1%), and Ghana (5.8%) were the main sources of cocoa butter imports to Turkey, jointly representing 84.8% of total import volume.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports in Turkey in kind, 2017-2020

Imports in value, K $ US

In 2020, Turkey's cocoa butter imports amounted to 86 385 thousand US dollars, a solid drop of 13.2% from 2019. Over the 2017-2020 period, imports decreased by 9.6%, with an average annual decline of 3.3%. The lowest import value was in 2018 at 72 361 thousand US dollars, which also saw the largest decline of 24.3%. Imports reached their highest in 2019 at 99 570 thousand US dollars, recording the largest increase of 37.6%.

Annual dynamics of product's imports in Turkey in value, 2017-2020, K $ US

From 2017 to 2020, Malaysia (39.0% of imports in value), the Netherlands (38.9%), and France (6.3%) continued to be the principal suppliers of cocoa butter to Turkey, together accounting for 84.2% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports in Turkey in value, 2017-2020